The tögrög or tugrik (Mongolian: ᠲᠥᠭᠦᠷᠢᠭ᠌, төгрөг, tögrög) (sign: ₮; code: MNT) is the official currency of Mongolia. It was historically subdivided into 100 möngö (мөнгө). Currently, the lowest denomination in regular use is the 10-tögrög note and the highest is the 20,000-tögrög note. In unicode, the currency sign is U+20AE₮tugrik sign.

In 2010, the tögrög rose 15% against the dollar[clarification needed], due to the growth of the mining industry in Mongolia.[1] However, its exchange rate eroded by 24% from early 2013 to June 2014 due to falling foreign investment and mining revenue.

Contents

The word tögrög (төгрөг) refers to "circle", or a "circular object" (i.e. a coin), but now is rarely used outside of referring to the currency, with the exception of the phrase төгрөг сар (tögrög sar), meaning "full moon".

The tögrög was introduced on December 9, 1925[2] at a value equal to one Soviet ruble, where one ruble or tögrög was equal to 18 grams (0.58 ozt) of silver. It replaced the Mongolian dollar and other currencies and became the sole legal currency on April 1, 1928.

Möngö coins are not in circulation as currency any longer, as they are of negligible value. They are sold to tourists and as novelties and collectibles now.

During socialism, the tögrög coin denominations were 1, 2, 5, 10, 15, 20, 50 möngö, and 1 tögrög. After the Mongolian People's Republic came to an end in 1990 and inflation surged, the möngö coins were abandoned and larger tögrög values introduced.

Like coins the tögrög banknotes were very similar to the Soviet ruble during the Mongolian People's Republic era. The similarities included color theme, overall design, and the lineup of the denominations, which were 1, 3, 5, 10, 25, 50, 100 tögrög unless stated otherwise. The color for each value is

Issued dates are listed for up to 2003. It is known that there is a 2005 edition of 10 tögrög, but it is yet unclear whether or not it was the only value for the 2005 edition.

Lower value notes (10 ~ 500 tögrög) issued in 2000 and after have line-patterned color underprint on the entire note, where the previous edition had near-white solid color. But one exception to the rule is the 2000 edition of 500 tögrög.

High value notes (500 ~ 10,000 tögrög) issued in 2002 and after have a patch on the lower right hand side of obverse as an improved anti-counterfeit device, which was previously only available on the two highest values. The new patch is also more sophisticated than the ones in the 1990s. The two highest values also have their Soyombo symbol upgraded to a hologram.